this post was submitted on 05 Sep 2024

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Truth Social Hits All-Time Low as CEO Sells His Crashing Stock (futurism.com)

submitted 2 years ago by FlyingSquid@lemmy.world to c/news@lemmy.world

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Unfortunately, Trump will still likely come out much richer than he was before. It's still nice to see.

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[–] frezik@midwest.social 3 points 2 years ago (3 children)

They might have forgotten the pump part.

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[–] UnderpantsWeevil@lemmy.world 6 points 2 years ago (1 child)

The P/E on DWAC was so comically high. This was a company with a $7B valuation after earning, like, $3000 in a year. They were selling shares in a circa 2022 Mastadon instance that had never been upgraded. It was pure pump.

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[–] KillingTimeItself@lemmy.dbzer0.com 2 points 2 years ago

dont forget about the revenue income, they pulled in what like, a few (ten/hundred?) million of revenue in a year?

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[–] KillingTimeItself@lemmy.dbzer0.com 4 points 2 years ago